Wintery Knight

…integrating Christian faith and knowledge in the public square

Nancy Pelosi’s brother-in-law gets $737M of taxpayers’ money to build solar plant

From the UK Daily Mail.

Excerpt:

Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.

The massive loan agreement is raising new concerns about the use of taxpayers’ money as vast sums are invested in technology similar to that of the doomed energy project.

The investment has intensified the debate over the effectiveness of solar energy as a major power source.

The SolarReserve project is backed by an energy investment fund where the Minority Leader’s brother-in-law Ronald Pelosi is second in command.

PCG Clean Energy & Technology Fund (East) LLC is listed as one of the investors in the project that has been given the staggering loan, which even dwarfs that given to failed company Solyndra.

Other investors include one of the major investors in Solyndra, which is run by one of the directors of Solyndra.

Steve Mitchell, who served on the board of directors at the bankrupt energy company, is also managing director of Argonaut Private Equity, which has invested in the latest project.

Since Solyndra has filed for bankruptcy has been asked to testify about the goings on at the firm by two members of the House and ‘asked to provide documents to Congress’.

[...]The project approval came as part of $1 billion in new loans to green energy companies yesterday.

Did they learn anything from Solyndra? No:

‘The administration’s flagship project Solyndra is bankrupt and being investigated by the FBI, the promised jobs never materialised, and now the Department of Energy is preparing to rush out nearly $5 billion in loans in the final 48 hours before stimulus funds expire — that’s nearly $105 million every hour that must be finalised until the deadline,’ said Florida representative Cliff Stearns, who is chairman of the investigations subcommittee of the House Committee on Energy and Commerce.

Since Nancy Pelosi took over federal spending in January 2007, the national debt has increased from $8.5 trillion to about $17.5 trillion. That’s NINE TRILLION dollars in new spending. And much of it just handed off to the people and groups who got the Democrats elected 2008 and 2012.

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New study: premiums for young people to rise in all 50 states under Obamacare

The Washington Free Beacon reports on a new study.

Excerpt:

Health insurance premiums for young people will rise in all 50 states under Obamacare, with an average increase of 260 percent, according to a study released Thursday.

The young and healthy segment of the uninsured is considered crucial for the Affordable Care Act to succeed. Former President Bill Clinton suggested last week that Obamacare only works “if young people show up.”

However, an analysis of premiums both before and after the implementation of Obamacare shows that 18- to 35-year-olds are likely to opt out of high rates in the exchanges in favor of cheaper penalties for not having insurance.

According to a study released by the American Action Forum, post-Obamacare premiums will average $187.08 per month, up from $62 per month in 2013, a 202 percent increase.  Overall, states averaged an increase of 260 percent.

Forty-four out of 50 states saw a three-digit percent increase, and in Vermont the cheapest available premium for a 30 year-old male nonsmoker will increase by $332.69, or 600 percent.

[...]Massachusetts had the lowest increase at 9 percent, though the state is considered an “outlier” since it already had similar health care reforms put in place under former Republican Gov. Mitt Romney.

“[T]hat state’s insurance market has been subject to ACA-like reforms since 2006, bloating the premium for the lowest-cost pre-ACA policy to nearly $214, making it the highest of the 2013 premiums analyzed in this study,” the report said.

But what about the subsidies, won’t they help cover the cost of all the free condoms and birth control pills and abortion drugs?

No:

Given the high costs of the premiums, the study predicts that even with subsidies, most of the young uninsured will opt to pay the penalty rather than sign up for health care.

Individuals between 100 and 400 percent of the federal poverty line are eligible for subsidies under the law.

Only those who earn up to 133 percent of the poverty line will have a financial incentive to join the health exchange.  An individual with an income of $15,281.70 would receive a subsidy to cover 100 percent of their health care premiums.

Moving up the income bracket creates disincentives for the young to enroll.  Those making $20,107.50, or 175 percent of the poverty line, will still face a $449 premium, which is three times higher than the penalty they would incur in 2014 ($103.57) if they did not purchase insurance.

An individual earning $37,342.50 will receive no subsidy at all and will face a minimum premium of $2,839, as opposed to a $275.92 penalty in 2014.

I’m pretty sure that most people who get jobs out of college will make more than $37,342.50. Petroleum engineers start at around double that income.

So, I’m thinking that the young people – especially college-educated people with jobs – shouldn’t have voted for Obama. Do you think that their teachers and professors explained to them what would happen to them if they voted for Obama? I think not. I think that their teachers and professors wanted their little wide-eyed charges to vote for more funding of education, with no performance checking, so that they could be paid more money. And the children believed their teachers and voted accordingly. This is a particularly bad deal for bright young men – the kind you might expect to be interested in marriage. Now not only have they inherited massive amounts of debt and a crappy socialist economy with no jobs, but they are being forced to buy expensive health care coverage that they don’t need and won’t use. Why? To subsidize the health care claims made by women and the elderly, who use more health care products and services.

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Obama violates his own stimulus law by refusing to release status reports

The Weekly Standard reports.

Excerpt:

Have you heard much about President Obama’s $787,000,000,000 economic “stimulus” (now estimated to cost $831,000,000,000) lately?  In its last report, published in 2011, the president’s own Council of Economic Advisors released an estimate showing that, for every $317,000 in “stimulus” spending that had by then gone out the door, only one job had been created or saved.  Even in Washington, that’s not considered good bang for the buck.

Moreover, that was the fifth consecutive “stimulus” report that showed this number getting progressively worse.

Alas, that was the last report we’ve seen.  Never mind that Section 1513 of the “stimulus” legislation, which Obama spearheaded and signed into law, requires the executive branch to submit a new report every three months.  It reads:

“In consultation with the Director of the Office of Management and Budget and the Secretary of the Treasury, the Chairperson of the Council of Economic Advisers shall submit quarterly reports to the Committees on Appropriations of the Senate and House of Representatives that detail the impact of programs funded through covered funds on employment, estimated economic growth, and other key economic indicators.”

[...]By now, [the Obama administration] was supposed to have released fourteen such reports.  It has released only eight.  The last one covered the period ending in June 2011.  That’s right — 2011.

With only 58.6 percent of Americans currently employed — down 2.4 percent from the time of Obama’s first inauguration — it’s not surprising that the Obama administration doesn’t really want to fulfill it legal responsibilities and release subsequent reports on its failed “stimulus.”  However, it hardly seems fair — to use one of Obama’s favorite words — that the rich and (extremely) powerful think that they can choose whether or not to abide by the laws they spearhead and sign, while the rest of us are forced to obey them.

I’m not surprised by this, because we all know that Democrats are the biggest tax cheats ever. It’s not surprising to me that they pass laws that they have no intention of following themselves, because they are hypocrites. The laws are meant to stop others from succeeding, but Democrats themselves always seem to be exempt. Just like the waivers that the big labor unions got from Obamacare. Poverty for thee, but not for me.\

Related posts

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New survey finds that university professors are moving further to the left

From the Inside Higher Ed.

Excerpt:

Academics, on average, lean to the left. A survey being released today suggests that they are moving even more in that direction.

Among full-time faculty members at four-year colleges and universities, the percentage identifying as “far left” or liberal has increased notably in the last three years, while the percentage identifying in three other political categories has declined. The data come from the University of California at Los Angeles Higher Education Research Institute, which surveys faculty members nationwide every three years on a range of attitudes.

Here are the data for the new survey and the prior survey:

2010-11 2007-8
Far left 12.4% 8.8%
Liberal 50.3% 47.0%
Middle of the road 25.4% 28.4%
Conservative 11.5% 15.2%
Far right 0.4% 0.7%

Gauging how gradual or abrupt this shift is is complicated because of changes in the UCLA survey’s methodology; before 2007-8, the survey included community college faculty members, who have been excluded since. But for those years, examining only four-year college and university faculty members, the numbers are similar to those of 2007-8. Going back further, one can see an evolution away from the center.

In the 1998-9 survey, more than 35 percent of faculty members identified themselves as middle of the road, and less than half (47.5 percent) identified as liberal or far left. In the new data, 62.7 percent identify as liberal or far left. (Most surveys that have included community college faculty members have found them to inhabit political space to the right of faculty members at four-year institutions.)

Professors are extremely liberal, especially in non-quantitative, non-scientific departments like English. It’s much harder to be liberal in academic areas where there is some connection to the real world that can be tested, like economics, business and computer science. Liberal bias is something to look out for if you go on to higher education. What you’ll find there is that there is often a lack of critical thinking on many topics. The left isn’t welcoming of other points of view. Their side doesn’t read our stuff, but we read their stuff. They think we’re evil, and we just think they’re wrong.

Here’s my previous post surveying several academic studies of liberal bias in the mainstream media.

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New study: university professors admit they would discriminate against conservatives

From the Washington Times.

Excerpt:

It’s not every day that left-leaning academics admit that they would discriminate against a minority.

But that was what they did in a peer-reviewed study of political diversity in the field of social psychology, which will be published in the September edition of the journal Perspectives on Psychological Science.

Psychologists Yoel Inbar and Joris Lammers, based at Tilburg University in the Netherlands, surveyed a roughly representative sample of academics and scholars in social psychology and found that “In decisions ranging from paper reviews to hiring, many social and personality psychologists admit that they would discriminate against openly conservative colleagues.”

[...][C]onservatives represent a distinct minority on college and university campuses. A 2007 report by sociologists Neil Gross and Solon Simmons found that 80 percent of psychology professors at elite and non-elite universities are Democrats. Other studies reveal that 5 percent to 7 percent of faculty openly identify as Republicans. By contrast, about 20 percent of the general population are liberal and 40 percent are conservative.

Mr. Inbar and Mr. Lammers found that conservatives fear that revealing their political identity will have negative consequences. This is why New York University-based psychologist Jonathan Haidt, a self-described centrist, has compared the experience of being a conservative graduate student to being a closeted gay student in the 1980s.

In 2011, Mr. Haidt addressed this very issue at a meeting of the Society for Personality and Social Psychology — the same group that Mr. Inbar and Mr. Lammer surveyed. Mr. Haidt’s talk, “The Bright Future of Post-Partisan Social Psychology,” caused a stir. The professor, whose new book “The Righteous Mind” examines the moral roots of our political positions, asked the nearly 1,000 academics and students in the room to raise their hands if they were liberals. Nearly 80 percent of the hands went up. When he asked whether there were any conservatives in the house, just three hands — 0.3 percent — went up.

[...]“Because of the way the confirmation bias works,” Mr. Haidt says, referring to the pervasive psychological tendency to seek only supporting evidence for one’s beliefs, “you need people around who don’t start with the same bias. You need some non-liberals, and ideally some conservatives.”

But that’s not all – those findings are confirmed by other studies of campaign donations by professors:

Professors, administrators and others employed at the eight universities of the Ivy League have given $375,932 to Obama and $60,465 to Romney, according to data compiled by the Center for Responsive Politics, a Washington watchdog group that tracks campaign finance issues.

[...]The president’s academic advantage extends behind the Northeast’s ivied walls and into the Midwest.

At Ohio State University in Columbus, for example, Obama has raised $18,230 from faculty and staff, compared with Romney’s $3,500.

What is the cause of this massive slant towards Democrats? Is it because Democrats are smarter? Are lifelong welfare recipients and Hollywood celebrities smarter than business owners and economists? Well, consider this essay by secular libertarian professor Robert Nozick who explains why university professors are liberal.

Excerpt:

What factor produced feelings of superior value on the part of intellectuals? I want to focus on one institution in particular: schools. As book knowledge became increasingly important, schooling–the education together in classes of young people in reading and book knowledge–spread. Schools became the major institution outside of the family to shape the attitudes of young people, and almost all those who later became intellectuals went through schools. There they were successful. They were judged against others and deemed superior. They were praised and rewarded, the teacher’s favorites. How could they fail to see themselves as superior? Daily, they experienced differences in facility with ideas, in quick-wittedness. The schools told them, and showed them, they were better.

The schools, too, exhibited and thereby taught the principle of reward in accordance with (intellectual) merit. To the intellectually meritorious went the praise, the teacher’s smiles, and the highest grades. In the currency the schools had to offer, the smartest constituted the upper class. Though not part of the official curricula, in the schools the intellectuals learned the lessons of their own greater value in comparison with the others, and of how this greater value entitled them to greater rewards.

The wider market society, however, taught a different lesson. There the greatest rewards did not go to the verbally brightest. There the intellectual skills were not most highly valued. Schooled in the lesson that they were most valuable, the most deserving of reward, the most entitled to reward, how could the intellectuals, by and large, fail to resent the capitalist society which deprived them of the just deserts to which their superiority “entitled” them? Is it surprising that what the schooled intellectuals felt for capitalist society was a deep and sullen animus that, although clothed with various publicly appropriate reasons, continued even when those particular reasons were shown to be inadequate?

 

Economist Thomas Sowell has written an entire book about this called “The Vision of the Anointed“, and you can read some of the best quotes here. I’ve written before about how the mainstream news media is also dominated by leftists, too.

I think it’s important to keep in mind that being able to build a profitable business is also intelligence of a kind. Someone who can repeat what their professors say isn’t necessarily more intelligent than a business owner or engineer or nurse. Especially if the professor fails badly when given a task to do in the real world. For example, Democrat Christina Romer is a leftist professor of economics. She can parrot nonsense about socialism and stimulus all day to students. But when she was put in charge of real economic issues in the real world, her economic plan failed - and she admitted it.

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